Telio reorganization – splits company in two parts

The board of directors of Telio Holding ASA has approved a plan for an internal reorganization of its operations, splitting the Telio Group into an operator unit and a technology unit. The split is carried out in order to develop the two business areas as separate business units, each with different focus. Telio’s highly recognized IP technology platform and related products and services are a core asset for the Telio Group and the board sees great opportunities in developing this part of the business as a separate unit. The rapid development in the area of IP technology represents opportunities for Telio. The recent launch of applications for mobile phones (Teliophone and Goji) is an important foundation for further development of the technology unit.

The reorganization will take place on subsidiary level and at this stage not affect the ultimate parent company Telio Holding ASA and its shareholders. The formal process is expected to be finalized by the end of 2011.